Simple Tips For Repairing Your Damaged Credit
Many people are almost out of high school before learning anything about their credit. Some never learn about their credit – how to protect or repair it. This article can help anyone, whether you never learned, or just need a refresher about credit repair.
Since current bankruptcy legislation mandates that you acquire credit counseling from an organization which is government-approved within six months prior to filing for bankruptcy relief, it is important to know where you can access a listing of these approved organizations. You may view these organization on a state-by-state list on the U.S. Department of Justice’s website, under the U.S. Trustee Program.
To help repair your credit, you should dispute anything you believe is inaccurate on your credit report. Disputing these inaccurate items will lead to an investigation which can and oftentimes result in the removal of these mistakes. These mistakes if fixed can greatly improve a credit score, which in turn helps to quickly repair your credit.
Did you know that every time you apply for credit, your credit score is damaged a little? Applying for multiple credit cards, loans and other debt can significantly decrease your score, making it difficult to purchase important items later, such as a home or car.
If you work every day but never seem to have any money, you should track how much you are spending and on what. By keeping a daily list of everything you spend your hard earned money on, you will be able to cut down or do away with those expenditures that are not required. You will be able to establish a realistic plan of how much money you need for a month, and you can use the rest to pay off other debts or just save the money, the choice is yours.
One of the largest causes of bad credit is fraud. Staying on top of your credit by obtaining free yearly credit reports from the three major credit agencies will alert you of any fraudulent activity early on. The most common thing to watch for is new credit cards issued through the theft of your identity. Taking preventative measures like this will help you maintain high credit and reduce the need for unnecessary credit repair.
An important tip to consider when working to repair your credit is to make sure you exhaust all possible resources before considering bankruptcy. This is important because bankruptcy will remain on your report for 10 years and is extremely hard to come back from. Always consult with a credit counselor beforehand.
Make sure that you are very careful about your personal information being available to identity thieves. Be careful about keeping your social security card safe, get good software to keep your computer safe from attacks, and purchase a small paper shredder so that you can safely get rid of any documents that might have personal information on them.
So, aren’t you glad you took a few minutes to learn or remind yourself about credit repair? Remember it is never too late to apply the suggestions provided to protect or repair your credit.